Interswitch is venturing into the Nigerian telecoms market

Interswitch, which made $42 million in revenue in its last financial year in 2023, has acquired a Tier 5 Mobile Virtual Network Operators (MVNO) license worth $1 million from the Nigeria Communications Commission (NCC).

The license would allow Interswitch to launch a low-level virtual telecom model alongside its payment services to B2B customers and consumers. Interswitch, valued at $1 billion with over 5 million customers, would partner with one of the four main telcos in the country (MTN, Airtel, 9Mobile, and Glo) to provide telecom services to areas with little penetrative access.

With this move, the company would capture a decent market share in Nigeria’s mobile sector, which is estimated to have over 200 million subscribers.